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Richmond Manufacturing Index falls to -7

By BFN News | 03:06 PM | Tuesday 28 June, 2016

Fifth District manufacturing activity weakened in June, according to the latest survey by the Federal Reserve Bank of Richmond with its main index falling to -7 from -1. New orders and shipments declined this month, while backlogs decreased further compared to last month. Manufacturing employment softened, while firms continued to increase wages. Prices of raw materials rose somewhat more slowly this month and finished goods prices rose slightly faster in June, compared to last month. Story provided by

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